China Bans Transfers to Exchanges -- $40,000 a Bitcoin? -- $61M invested in Bitcoin Trust

Here's a summary of the 2013-12-16 Mad Bitcoins episode:

1. Main Topics Discussed:

• China's Restrictions: The People's Bank of China reportedly banned payment companies from working with Bitcoin exchanges, causing market concern but also increased publicity.
• Bitcoin Price Speculation: Cameron Winklevoss suggested a potential $40,000 per Bitcoin in a "small bull-case scenario."
• Bitcoin Investment Trust: Second Market's Bitcoin Investment Trust raised $61 million in three months, marking the "VC phase" of Bitcoin adoption.
• Investment Advice: Encouragement to hold Bitcoin despite current price dips and a call to new investors to buy.

2. Key Quotes:

• "If the Chinese people hadn't heard about Bitcoin before, they'll hear about it now."
• "The small bull-case scenario for Bitcoin is a $400 billion USD market cap, and that means more than $40,000 a coin."
• "Hold Spartans." (referencing Winklevoss's advice)

3. People Mentioned:

• Cameron Winklevoss
• CEO of Second Market (unnamed)

4. Bitcoin Price (as of the episode):

• Last: $7.26
• High: $8.80
• Low: $7.09
• Potential future price: $40,000 (speculative)
• Litecoin: $25

The episode maintains a generally optimistic outlook despite the news from China, emphasizing the long-term potential of Bitcoin and encouraging listeners to hold their investments.